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  • DMCI Holdings’ Q1 Profit Falls 9% as Coal, Cement Headwinds Offset Gains in Real Estate, Water

    DMCI Holdings’ Q1 Profit Falls 9% as Coal, Cement Headwinds Offset Gains in Real Estate, Water

    DMCI Holdings, Inc. (PSE: DMC) posted a 9% decline in first-quarter net income to ₱5.1 billion ($88 million), from ₱5.6 billion a year earlier, as stabilizing coal prices and the integration of its newly acquired cement business weighed on earnings.

    The diversified conglomerate cited stronger contributions from its real estate, water, nickel mining, and off-grid power units as helping temper the impact of softer energy prices and transition costs from its December 2024 acquisition of Concreat Holdings Philippines.

    “Market conditions today are very different from five years ago, but our businesses have adapted well,” DMCI Holdings Chairman and CEO Isidro A. Consunji said. “We continue to pursue organic growth across the portfolio, while laying the groundwork for a successful transformation of our cement operations.”

    Semirara Mining and Power Corporation, DMCI’s largest income contributor, posted ₱2.5 billion in earnings, down 31% year-on-year, due to moderating coal prices and a greater proportion of lower-grade shipments. However, stronger on-grid power sales partially offset the decline.

    DMCI Homes delivered a 56% jump in profit contribution to ₱1.4 billion, driven by newly recognized sales, rental income, forfeitures, and higher finance income. Associate Maynilad Water Services grew its earnings contribution by 39% to ₱926 million, supported by tariff adjustments and operational efficiencies.

    DMCI Power recorded a 2% rise in contribution to ₱270 million on the back of increased energy sales and expanded bunker-fired capacity in Palawan.

    DMCI Mining swung to a net income of ₱409 million from a ₱22 million loss last year, as it fully activated its Zambales Chromite Mining Company (ZCMC) operations, expanding the number of active mines.

    Meanwhile, D.M. Consunji, Inc., the group’s construction arm, saw its earnings contribution fall to ₱50 million from ₱98 million due to higher cash costs, project delays, and conservative revenue recognition.

    Newly acquired Concreat Holdings posted a ₱546 million net loss for the quarter, reflecting lower sales volumes and higher interest expenses. DMCI Holdings said integration efforts are underway to improve the cement unit’s operational and financial performance.

    Founded in 1995, DMCI Holdings remains the Philippines’ only listed conglomerate with construction and engineering as its core business. The company continues to focus investments domestically, with operations concentrated outside Metro Manila.

    Mining News Philippines

  • Supreme Court Strikes Down Local Ban on Large-Scale Mining in Occidental Mindoro

    Supreme Court Strikes Down Local Ban on Large-Scale Mining in Occidental Mindoro

    The Philippine Supreme Court has upheld a 2018 ruling that nullified ordinances imposed by Occidental Mindoro province and the Municipality of Abra de Ilog that sought to ban large-scale mining for 25 years, declaring the measures unconstitutional.

    In a unanimous 30-page decision penned by Associate Justice Marvic Leonen, the Court en banc ruled that the ordinances violated Republic Act No. 7942, or the Philippine Mining Act of 1995, which governs the development and regulation of the country’s mineral resources.

    “While the Constitution recognizes the autonomy of local government units, it does not extend to vetoing a national law,” the Supreme Court said.

    The decision arose from a petition filed by Agusan Petroleum and Mineral Corporation (APMC), which challenged the validity of the ban, arguing that it infringed on its rights under a government-approved Financial or Technical Assistance Agreement (FTAA).

    APMC contended that local ordinances cannot override national mining policies that already include environmental safeguards implemented by the Department of Environment and Natural Resources and the Mines and Geosciences Bureau.

    Occidental Mindoro defended the moratorium as a valid exercise of police power meant to protect its environment and residents, while Abra de Ilog argued that the FTAA was issued without proper consultation with affected communities.

    The Supreme Court rejected these defenses, noting that local governments cannot enact measures that contradict national laws. It found the blanket ban on large-scale mining overly broad and inconsistent with the Mining Act, which requires a case-by-case evaluation of mining applications rather than outright prohibition.

    The ruling reinforces national government authority over mining policy while limiting the ability of local governments to unilaterally impose sector-wide bans.

    Mining News Philippines

  • MGB Pushes SDG Integration in Community Development Programs

    MGB Pushes SDG Integration in Community Development Programs

    The Mines and Geosciences Bureau (MGB) of the Philippines continued its rollout of new sustainability guidelines for the mining sector, hosting an orientation on the Department of Environment and Natural Resources (DENR) Administrative Order (DAO) No. 2025-10 in Quezon City on April 29-30.

    The two-day event, the second of three nationwide sessions, focused on integrating the United Nations Sustainable Development Goals (SDGs) into the Social Development and Management Program (SDMP) of mining companies.

    It brought together MGB regional social development officers and corporate community relations managers from Luzon.

    DENR Assistant Secretary for Mining Concerns and MGB Officer-in-Charge Director Engr. Michael V. Cabalda urged participants to move “beyond compliance,” stressing that the new guidelines aim to ensure that no communities are left behind as the industry grows.

    National Unified Information, Education, and Communication Plan Steering Committee Chairman Atty. Ronald S. Recidoro also highlighted the importance of DAO 2025-10 to the sector.

    During the orientation, MGB officials detailed the background, key features, and reporting requirements under the new order.

    They introduced templates for SDG-integrated reporting and emphasized the need to align mining companies’ five-year and annual SDMPs with sustainable development targets.

    The event included workshops where participants practiced filling out accomplishment report templates using their own SDMP activities mapped to relevant SDG indicators. Outputs were critiqued in an open session to improve understanding ahead of full implementation.

    The final rollout of DAO 2025-10 guidelines is scheduled to take place in Mindanao later this year, completing the MGB’s nationwide campaign to embed sustainability more deeply across the Philippine mining sector.

    Mining News Philippines

  • FNI Posts Strong Start to 2025 as Nickel Revenues Double on Higher Prices, Volumes

    FNI Posts Strong Start to 2025 as Nickel Revenues Double on Higher Prices, Volumes

    Global Ferronickel Holdings, Inc. (PSE: FNI), one of the Philippines’ largest nickel ore producers, reported first-quarter revenues of ₱1.21 billion ($21 million), more than doubling from a year earlier, as higher shipment volumes and stronger nickel prices fueled growth.

    Net income attributable to shareholders surged 1,568% to ₱177.3 million in the three months through March, compared to ₱10.6 million a year earlier. Earnings per share rose to ₱0.0346 from ₱0.0021.

    Mining revenues from FNI’s operations in Palawan jumped 105.6% year-on-year to ₱1.205 billion, with shipment volumes rising 32.5% to 505,459 wet metric tons (WMT). The company’s average realized nickel ore price climbed 50% to $41.13 per WMT, amid a constrained ore supply environment and strong demand from China.

    “The early shipment of medium-grade nickel ore to China sets a strong tone for the year,” said FNI President Dante R. Bravo. He added that the company remains focused on process optimization and navigating geopolitical risks to drive growth.

    Cost of sales rose 71.9% to ₱532.3 million on higher shipment volumes, while operating costs increased 55% to ₱433.3 million, partly due to timing differences in business tax settlements and provisions for input VAT impairment.

    Despite higher expenses, FNI said it remains committed to strategies that will expand its resource base and customer reach while strengthening its position in the global nickel supply chain.

    FNI, which is listed on the Philippine Stock Exchange, aims to capitalize on the growing demand for nickel, a key input for electric vehicle batteries and stainless steel production.

    Mining News Philippines

  • Platinum Group Metals begins 2025 with first nickel ore shipment to Indonesia

    Platinum Group Metals begins 2025 with first nickel ore shipment to Indonesia

    Platinum Group Metals Corporation (PGMC), the operating arm of Global Ferronickel Holdings Inc. (FNI) in Surigao del Norte, kicked off its 2025 operations with the successful dispatch of its first nickel ore shipment of the year, bound for Indonesia.

    The shipment, carried by MV YUE DIAN 59, departed the PGMC anchorage area on April 30, transporting 56,625 wet metric tons (WMT) of low-grade nickel ore.

    The ore has a nickel content of 1.25% and iron content below 20%. This initial dispatch marks the start of what PGMC anticipates will be a productive year for its mining and export operations.

    While China continues to be the largest market for Philippine nickel, FNI is expanding its international customer base.

    The company noted a significant increase in demand from Indonesia, which is ramping up its domestic processing capacity. The move is seen as part of a broader strategy to strengthen FNI’s market presence and mitigate risk by diversifying its client portfolio.

    For 2025, PGMC aims to complete a total of 91 nickel ore shipments, translating to five million WMT, subject to weather and operating conditions. The expected sales mix includes 47% medium-grade and 53% low-grade ore.

    FNI reaffirmed its commitment to being one of the country’s leading nickel producers, contributing to the growth of the Philippine mining industry while supporting regional development in Surigao del Norte.

    In December last year, PGMC received the Presidential Mineral Industry Environmental Award (PMIEA) Platinum Achievement Award – Surface Mining Operation Category and was voted 1st Runner-Up in the Best Mining Forest Contest – Metallic Category at the 70th Annual Mine Safety and Environment Conference in Baguio City.

    Established under Executive Order No. 399 (1997), the PMIEA honors the “exemplary efforts of the mining groups and companies in the country in achieving environmentally and socially responsible mining operations.”

    “These awards reflect our strong commitment to align our operations with the highest standards of environmental protection, social inclusivity, and workplace safety,” said FNI President Dante R. Bravo.

    PGMC strictly adheres to best practices and works closely with regulators to ensure compliance with all legal and environmental requirements.

    It holds an Environmental Compliance Certificate with an approved Environmental Protection and Enhancement Program (EPEP), Final Mine Rehabilitation and/or Decommissioning Plan (FMR/DP), Annual EPEP, 5-Year Social Development and Management Program (SDMP), Annual SDMP, and Safety and Health Program (SHP), among others.

    MiningNewsPhilippines.com

  • Concreat boosts output with new cement line in Rizal, raises capacity by 26%

    Concreat boosts output with new cement line in Rizal, raises capacity by 26%

    Concreat Holdings Philippines, formerly Cemex, a majority-owned subsidiary of DMCI Holdings Inc, has commenced operations of a new production line at its Solid Cement Plant in Antipolo City, raising its total annual capacity to 7.2 million metric tons (MT) as of April 2025, up 26% from 5.7 MT.

    The expansion increased the Antipolo facility’s capacity from 1.9 MT to 3.4 MT and is a key part of the company’s turnaround strategy.

    The upgraded line, which passed confirmatory testing, features a more efficient kiln and uses Semirara coal to reduce production costs and emissions.

    “This expansion is a pivotal step in Concreat’s turnaround. With higher capacity, a more efficient kiln, and the use of Semirara coal, we are rebuilding momentum and lowering production costs—laying the groundwork for long-term recovery,” said President and CEO Herbert M. Consunji.

    The facility is equipped with energy-efficient technologies expected to yield annual energy savings and cut emissions. The project also received fiscal incentives and an income tax holiday from the Board of Investments (BOI), recognizing its role in strategic industrial development.

    Beyond output gains, the expansion is expected to generate direct and indirect jobs in surrounding communities and promote long-term local resilience through skills training and livelihood programs.

    Concreat is a major domestic cement manufacturer producing under the APO, Rizal, and Island brands. It operates through APO Cement Corp and Solid Cement Corp, offering products such as Ordinary Portland Cement (OPC) widely used in large-scale construction.

    The rebranding to Concreat Holdings Philippines from Cemex Holdings Philippines marks a new strategic direction for the company under DMCI’s leadership.

    The change signals a sharper focus on operational efficiency, sustainability, and alignment with local supply chains, including fuel sourcing from fellow DMCI unit Semirara. It also aims to distance the company from past financial setbacks and reposition it as a revitalized and resilient player in the Philippine cement industry.

    The refreshed identity underscores a commitment to national development through infrastructure and job creation, while promoting long-term investor and stakeholder confidence.

    The move aligns with Concreat’s commitment to supporting national development through the supply of high-quality cement for key infrastructure projects, including roads, homes, and bridges.

    MiningNewsPhilippines.com

  • Semirara Q1 net income drops 33% on lower coal prices, stronger power segment cushions decline

    Semirara Q1 net income drops 33% on lower coal prices, stronger power segment cushions decline

    Semirara Mining and Power Corp (SMPC) reported a 33% drop in net income to ₱4.4 billion in the first quarter of 2025 from ₱6.5 billion a year earlier, as stabilizing coal prices weighed on earnings despite improved performance from its power segment.

    Quarter-on-quarter, SMPC’s net income rose 11% from ₱3.92 billion, driven by stronger electricity generation and sales, according to a company disclosure.

    Coal production rose 16% to 5.7 million metric tons (MMT), supported by better access to mine seams in its Narra pit. However, total shipments slipped 2% to 4.7 MMT on weaker domestic sales, with exports to China, Brunei and Vietnam holding steady at 2.7 MMT.

    The average selling price (ASP) for Semirara coal fell 17% year-on-year to ₱2,481 per MT, tracking weaker global benchmarks. The Newcastle Index dropped 16% to US$105.4, while the Indonesian Coal Index 4 slid 14% to US$49.3.

    Gross power generation climbed 9% to 1,535 GWh, following the restoration of SEM-Calaca Power Corp’s Unit 2 to 300 MW in May 2024. Total power sales increased 11% to 1,427 GWh, with 64% sold via the spot market.

    The group’s overall power ASP held nearly flat at ₱4.42 per kWh. While bilateral contract prices improved, spot market prices in the Luzon-Visayas grid declined 21% to ₱3.63 per kWh amid increased generation capacity.

    At the end of March, 40% of the company’s 840 MW dependable power capacity was under contract. SMPC retained 421.6 MW of net selling capacity for the spot market, excluding fluctuating station service use.

    SMPC said it will continue to focus on cost management, production optimization and contracting strategies amid a dynamic energy landscape. – MiningNewsPhilippines.com

  • DPWH completes P99.3-M farm-to-market road in Misamis Occidental

    DPWH completes P99.3-M farm-to-market road in Misamis Occidental

    The Department of Public Works and Highways (DPWH) has completed an ₱99.3-million all-weather concrete road in Barangay Camating, Tudela, Misamis Occidental, aiming to improve agricultural productivity and rural connectivity in the mountainous area.

    The 8.4-lane-kilometer, two-lane concrete road replaces what was previously a rough and uneven route, often impassable during heavy rains.

    With the upgrade, local farmers—primarily from the indigenous Subanen tribe—can now transport their produce to markets more efficiently and at reduced cost, according to a report from DPWH Region 10 Director Lilibeth N. Aparecio.

    DPWH Secretary Manuel M. Bonoan said the road project is part of a broader push to deliver reliable and safe transportation infrastructure in far-flung communities.

    It aligns with the national government’s “Bagong Pilipinas” initiative under President Ferdinand Marcos Jr., which seeks to stimulate inclusive growth through infrastructure.

    The road was completed in January 2025 and funded under the 2024 General Appropriations Act. It was implemented by the DPWH Misamis Occidental 2nd District Engineering Office.

    Officials said the newly-paved road not only strengthens the province’s farm-to-market logistics but also encourages mobility and economic activity in a previously underserved area.

    The project adds to a growing list of infrastructure developments in Mindanao aimed at reducing isolation, enhancing agricultural output, and integrating indigenous communities into the broader regional economy.

    MiningNewsPhilippines.com

  • Tunnel breakthrough marks major milestone for Davao City Bypass Project

    Tunnel breakthrough marks major milestone for Davao City Bypass Project

    The Philippine government marked a major infrastructure milestone with the ceremonial breakthrough of the 2.3-kilometer northbound tunnel of the Davao City Bypass Construction Project (DCBCP) on April 28, 2025, signaling the completion of excavation works for one of the country’s most ambitious underground transport projects.

    The event, held at the North Portal in Barangay Waan, Davao City, was led by Department of Public Works and Highways (DPWH) Secretary Manuel M. Bonoan and attended by top Japanese officials, including Japan’s Minister of Land, Infrastructure, Transport and Tourism Nakano Hiromasa, Japanese Ambassador Endo Kazuya, and Japan International Cooperation Agency (JICA) Chief Representative Takashi Baba.

    The twin tunnels—constructed using the New Austrian Tunneling Method (NATM)—are set to become the longest mountain road tunnels in the Philippines, reflecting Japan’s technological input and long-standing infrastructure cooperation with the country.

    The project is being executed by the Shimizu-Ulticon-Takenaka Joint Venture, with consultancy from a Nippon Koei-led group.

    The Davao City Bypass spans 45.5 kilometers and is designed to alleviate congestion in Davao City, cutting travel time between Barangay Sirawan in Toril and Barangay J.P. Laurel in Panabo City to 49 minutes from the current 1 hour and 44 minutes.

    Five out of six contract packages are now under active construction, with the final package scheduled for procurement in Q3 2025.

    Funded through official development assistance from Japan, the bypass is part of the Marcos administration’s “Build Better More” agenda. Full project completion is targeted by 2028.

    The ceremony highlighted the strong bilateral ties through a traditional Japanese sake barrel breaking and ribbon-cutting, symbolizing unity and shared progress in infrastructure development. – MiningNewsPhilippines.com

  • MGB sets new rehabilitation rules for mined-out areas to boost biodiversity

    MGB sets new rehabilitation rules for mined-out areas to boost biodiversity

    The Mines and Geosciences Bureau (MGB) has issued a new directive requiring all mining companies in the Philippines to integrate natural succession strategies into the rehabilitation of mined-out and disturbed areas, a move aimed at aligning the industry with stricter environmental standards.

    Under Memorandum Order No. 2025-001, released on February 18, mining contractors and permit holders must adopt ecosystem-based rehabilitation approaches, which involve the gradual return of native plant and animal species to restore ecological balance and biodiversity.

    The guidelines form part of the government’s implementation of the Philippine Mining Act of 1995 and various Department of Environment and Natural Resources (DENR) policies.

    Mining firms are required to validate geospatial satellite data from the DENR and submit shapefiles identifying all disturbed sites, existing vegetation, and facilities.

    These will be integrated into the MGB’s national database for tracking rehabilitation efforts.

    The order outlines several technical requirements, including landform reconstruction to stabilize slopes and prevent erosion, soil amelioration using topsoil and organic matter, and phased planting starting with pioneer species followed by long-term forest vegetation.

    Companies must prioritize endemic and indigenous species and may use techniques such as hydroseeding, assisted natural regeneration, and the Miyawaki method.

    Ongoing maintenance—including survival rate monitoring, pest control, and fire prevention—will be mandatory.

    MGB regional offices are tasked with quarterly compliance checks, and firms must file regular reports detailing progress under their Progressive Mine Rehabilitation Programs.

    The memorandum takes effect in May 2025. Mining firms are instructed to immediately revise their Annual Environmental Protection and Enhancement Programs (AEPEPs), and pending submissions will be returned for alignment with the new rules. – MiningNewsPhilippines.com